Areim raises $450m for third Nordic real estate fund

Stockholm-based Areim AB has held a $450 million final close for its Areim Fund III. Areim’s third Nordic real estate fund continues the value-added strategy employed by Areim since the firm was established in 2003.

Fund III invests in Sweden, Finland, Denmark and Norway, and seeks to capitalize on the attractive opportunities that exist in these markets resulting from favorable supply and demand drivers, particularly in the residential, office and retail sectors. The fund will leverage Areim’s significant local operating experience and vertically integrated platform, including 30 professionals in acquisitions, asset management, development and leasing.

To date, Fund III has deployed approximately $72 million of equity into real estate investments in Sweden, Finland and Norway and has realized $27 million in proceeds.